Nice to see more chromite resource added. It was bound to come, it was just a matter of when. So that alone is not an event.
I am also pleased that the chromite percentage in the highlighted results is well above 40% so it is very economical and will provide a good average grade for the below 40% holes. Again this is a continuation of the quality we have seen before so I say in itself not earth shaking. I expected it sooner or later.
Next, which is more impressive to me, is that chromium ratio to iron is above 2 in the highlighted results, so again this represents more profitable processing and thus similarly more cash in our pockets.
Finally, it is the sum of the above that means profits from an increased resource and continued quality.
However, I do not attribute this news release as the cause of the sp rise on friday and associated volume, unless someone over reacted or misunderstood. Mind you I am not saying that there should not have been a share price rise on this news BUT that we had similar news releases before and not only has the sp not risen but often was dumped upon, unjustifiably may I add.
I am pleased with these results and hope they find similar results with the added drilling at Eagle's Nest.
(p.s. It is about time we had drill results of this type.)
Cheers.